Press release
Bus Compressor Market Projected to Exhibit Growth at 3.84% CAGR by 2031- TMR Study
Market Overview
The bus compressor market, valued at US$ 137.67 Mn in 2020, is anticipated to expand at a CAGR of 3.84% from 2021 to 2031. Despite setbacks caused by the pandemic, the sector is witnessing increased investment in electrification, particularly in electric and hybrid buses. The shortage of semiconductors, attributed to the surge in demand for personal computers and mobile devices during the pandemic, has impacted production, prompting manufacturers to focus on essential applications in buses, such as air conditioning and air brakes.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ญ (๐๐ฌ๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ ๐๐๐ข๐ฅ ๐๐ ๐๐จ๐ซ ๐๐ฎ๐ข๐๐ค ๐๐๐ฌ๐ฉ๐จ๐ง๐ฌ๐) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=83987&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
Key Drivers
Electrification Trends: The market is being driven by a surge in electrification efforts, with companies like WABCO and Gardner Denver investing in electric air compressors for buses. The shift towards electric and hybrid buses is creating revenue opportunities for compressor manufacturers.
Environmental Concerns: The demand for fuel-efficient and environmentally friendly solutions is propelling the adoption of electric compressors. The increase in air conditioning needs in commercial vehicles, coupled with rising temperatures, is further driving the demand for compressors in buses.
Flexible Solutions: Manufacturers, such as Atlas Copco, are responding to the transition towards electric and hybrid power buses by providing flexible solutions that run from battery networks, offering high air pressures, and ensuring efficiency within compact and lightweight packages.
Challenges
Technical Complexity: Design, manufacture, and assembly of bus compressors require precision, advanced R&D facilities, technical expertise, and significant investments. Technological advancements contribute to increased prices, affecting the overall cost of vehicles equipped with air conditioning compressors.
Pandemic Impact: The COVID-19 pandemic has disrupted the global bus compressor market, leading to production delays and transportation obstacles. Although economies are recovering, the pandemic's short-term impact has caused a slowdown in demand.
Competitive Landscape
Key players in the bus compressor market include BorgWarner Inc., Denso Corporation, Hanon Systems, HELLA GmbH & Co. KGaA, Hitachi Automotive Systems Ltd., MAHLE GmbH, Mitsubishi Electric Corporation, SANDEN HOLDINGS CORPORATION, Subros Limited, T/CCI Manufacturing, Toyota Industries Corporation, Voith GmbH & Co. KGaA, and Valeo SA.
Market Segmentation
The market is segmented based on compressor type, bus type, application, sales channel, and region. The air compressor segment, accounting for over 55% of the market share in 2020, is driven by the advantages of rotary screw compressors, such as fewer parts, longer lifespan, and better fuel efficiency.
Regional Analysis
North America holds a significant share of the global bus compressor market, with the U.S. dominating due to advanced research facilities and increased usage of AC compressors in passenger and commercial vehicles.
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ | ๐๐ฆ๐ฆ๐๐๐ข๐๐ญ๐ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ ๐๐ญ - https://www.transparencymarketresearch.com/checkout.php?rep_id=83987<ype=S&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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